Berenberg Bank Raises Legal & General Group (LON:LGEN) Price Target to GBX 385

Legal & General Group (LON:LGEN) had its target price boosted by stock analysts at Berenberg Bank from GBX 353 to GBX 385 in a note issued to investors on Thursday,Digital Look reports. The firm currently has a “buy” rating on the financial services provider’s stock. Berenberg Bank’s price target suggests a potential upside of 24.39% from the company’s previous close.

Other equities analysts have also issued reports about the company. Peel Hunt restated an “add” rating and set a GBX 320 price target on shares of Legal & General Group in a research note on Tuesday. Citigroup raised their price objective on Legal & General Group from GBX 249 to GBX 251 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada reissued an “underperform” rating and set a GBX 255 price objective on shares of Legal & General Group in a report on Wednesday, July 29th. Finally, Jefferies Financial Group restated an “underperform” rating and set a GBX 185 price objective on shares of Legal & General Group in a research report on Wednesday. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Legal & General Group currently has a consensus rating of “Hold” and an average target price of GBX 276.29.

Legal & General Group Stock Performance

LON LGEN opened at GBX 309.50 on Thursday. The company’s fifty day moving average is GBX 287.17 and its two-hundred day moving average is GBX 269.18. Legal & General Group has a 52-week low of GBX 217.20 and a 52-week high of GBX 310. The company has a debt-to-equity ratio of 1,100.04, a current ratio of 59.08 and a quick ratio of 0.50. The firm has a market capitalization of £16.94 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 2.34 and a beta of 0.80.

Legal & General Group (LON:LGEN) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported GBX 8.01 EPS for the quarter. Legal & General Group had a net margin of 0.91% and a return on equity of 15.89%. Equities research analysts forecast that Legal & General Group will post 24.2376446 EPS for the current year.

Insider Activity

In other news, insider Mark Jordy purchased 3,494 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average cost of GBX 303 per share, with a total value of £10,586.82. In the last ninety days, insiders have bought 8,390 shares of company stock worth $2,444,751. Company insiders own 0.59% of the company’s stock.

Legal & General Group News Roundup

Here are the key news stories impacting Legal & General Group this week:

• Positive Sentiment: Legal & General reported strong first-half results and said it would increase shareholder returns. The update reinforces confidence in the insurer’s operating performance and capital-generation outlook. Legal & General Reports Strong First-Half Performance and Increases Shareholder Returns
• Positive Sentiment: The company delivered a modest profit beat and raised its dividend by 2%. Higher distributions may appeal to income-focused investors and signal management’s confidence in cash flows. Legal & General Delivers Modest Profit Beat and Nudges Dividend Up 2 Percent
• Positive Sentiment: Legal & General reported quarterly earnings of GBX 8.01 per share, with a 15.89% return on equity. The results provide additional support for the recent share-price strength. Legal & General Earnings Results
• Positive Sentiment: Recent insider purchases—including Mark Jordy’s approximately £10,587 purchase and Andrew Kail’s smaller acquisition—may be interpreted as a vote of confidence, although the transactions are not large relative to the company’s market value. Legal & General Insider Buying
• Positive Sentiment: Peel Hunt maintained an “add” rating with a GBX 320 target, implying further upside from recent levels. Peel Hunt Broker Rating
• Negative Sentiment: Jefferies reaffirmed its “underperform” rating and assigned a GBX 185 target, substantially below the recent market price. The call highlights concerns that the shares may already reflect much of the improved outlook. Jefferies Legal & General Rating

Legal & General Group Company Profile

Legal & General Group Plc provides various insurance products and services in the United Kingdom, the United States, and internationally. It operates in Legal & General Retirement Institutional (LGRI), Legal & General Investment Management (LGIM), Legal & General Capital (LGC), and Retail segments. The LGRI segment offers annuity contracts with guaranteed income for a specified time; and longevity insurance products. The LGIM segment offers index fund management; active fixed income funds and liquidity funds; active equity management; solution and liability driven investment; multi-asset funds; corporate pension scheme solutions; and real assets.